By Sara Quam
Netbriefings is working on completing financials for its move to Luverne.
Although the equity raising is taking longer than company CEO Gary Anderson expected, he still thinks it will be done. "We'll get it done; that's just the kind of guy I am."
Netbriefings is an Internet Webcasting services company that announced in June it intended to expand in Luverne. The expansion will be in the form of a new customer and product service center.
"We haven't hired anybody, but we've interviewed people - some very quality people from Luverne," Anderson said. "I'm excited about the people."
Of the $250,000 equity that's a part of the agreement with Luverne, Anderson said between $170,000 and $200,000 is secured.
"I want to get this thing closed, but the tech markets aren't helping us any. The markets are slow, but we're picking up a number of checks every week," Anderson said.
Other things are happening for Netbriefings. The number of hits at the company's Web site has increased almost 10 times since the disasters at the World Trade Center buildings and the Pentagon earlier this month.
Businesses may not feel as comfortable flying huge numbers of employees to conferences and are looking into Netbriefings' services instead.
Anderson has received requests for demonstrations and company literature and has taken requests for bids off the Web site.
Netbriefings has some clients that Rock County may recognize. Embers America uses the company to archive versions of events for franchise employees to use for communications or training. In the city of St. Paul, Mayor Norm Coleman used Netbriefings' products and services to deliver the annual State of the City Address.
Office needs
Office space has been in short supply in Luverne. Netbriefings hasn't signed a lease yet but intends to use space behind the Brandenburg Gallery.
Randy Creeger is the owner of that building and was approved for a low-interest loan from the city of Luverne to redevelop the space into a usable office.
Any property owner within commercial districts can apply for the same loan that is a new Economic Development Authority program.
The loan is approved by the EDA and a local bank at 5 percent interest. The maximum allowable loan amount is $20,000.